Uniswap (UNIUSD) Price Retracement Towards $8.2 Level

Buyers’ moment is weak in Uniswap market

Uniswap Price Analysis – 14 November

It might overcome resistance levels at $8.8 and challenge the $9.5 to $10.1 levels if buying pressure resumes around $8.2. If sellers are able to break through the $8.2 support level, they may try to reassess the $7.9 and $7.2 levels.

UNI/USD Market

Key Levels:

Resistance levels: $8.8, $9.5, $10.1

Support levels: $8.2, $7.9, $7.2

UNI/USD Long-term Trend: Bullish

There is no doubt that the Uniswap daily chart displays a bullish reversal indicator. The currency was expected to test the $6.5 support level on September 5 before climbing to the $7.9 resistance level. The bears held onto their market after the price fell below $6.5. Over the past two weeks, the price of cryptocurrencies has risen to $8.2. After that, it started to increase and tested the resistance level at $10.1. It is currently re-examined the $6.2 zone after withdrawing.
Buyers complied with the prior instruction yesterday. The market may surge again towards previous high after the pullback.

Uniswap’s trading above the Hull Suite indicator for cryptocurrency signals indicates an upward trend. It might overcome resistance levels at $8.8 and challenge the $9.5 to $10.1 levels if buying pressure resumes around $8.2. If sellers are able to break through the $8.2 support level, they may try to reassess the $7.9 and $7.2 levels.

UNI/USD Medium-term Trend: Bearish

The 4-hour chart for Uniswap shows a downward trend. Price declines began as soon as the sellers maintained control of the $10.1 barrier level. Prices were as high as $10.1 when the primary job was completed a few days ago. This is what happened when purchasers put more pressure on their market. As purchasers become increasingly apprehensive, prices rise to the previously specified level; the Uniswap also climbed in tandem with the bulls. However, it is already pulling back to retest the $8.2 support level.

The price is currently below the dynamic support level. The market is erratic in Uniswap. A selling position is indicated by a negative QQE MOD signal histogram.

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